Ethereum

Bitcoin ETF

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Ethereum ETFs have seen significant outflows, with BlackRock’s ETHA nearing $1 billion in inflows.</li> 
 <li>Grayscale’s ETHE and GBTC are experiencing substantial outflows, while BlackRock’s IBIT attracts inflows.</li> 
</ul>  
<p>Ethereum (ETH) Exchange-Traded Funds (ETFs) have been underperforming when compared to Bitcoin (BTC) ETFs. </p> 
<p>Bitcoin ETFs have consistently recorded substantial inflows, a trend not mirrored by Ethereum ETFs. </p> 
<h2 id="blackrock-s-ethereum-etf-performance">BlackRock’s Ethereum ETF Performance</h2> 
<p>On August 9th, after market closure, Ethereum ETFs recorded net outflows of $89.7 million, as reported by Farside Investors. </p> 
<p>Interestingly, while other Ethereum ETFs like Grayscale’s ETHE have been experiencing consistent outflows since their launch, BlackRock’s ETHA is on the verge of a significant milestone. </p> 
<p>As of August 9th, ETHA has recorded $901 million in net inflows and is close to reaching the $1 billion mark. </p> 
<h2 id="industry-opinions">Industry Opinions</h2> 
<p>Nate Geraci, President of The ETF Store, expressed strong confidence in ETHA, predicting it will hit $1 billion this week. </p> 
<p>However, not all industry voices share this optimism, as illustrated by Rug Radio creator, Daito’s comment on institutional investors buying this “sh*tcoin.” </p> 
<h2 id="grayscale-s-ethe-and-gbtc-performance">Grayscale’s ETHE and GBTC Performance</h2> 
<p>Meanwhile, Grayscale’s ETHE is nearing a notable milestone, with outflows projected to hit $2.5 billion. </p> 
<p>Grayscale’s Bitcoin ETF (GBTC) is also facing challenges, with a substantial outflow streak, accumulating a total outflow of $19.451 billion since its launch. </p> 
<p>In contrast, BlackRock’s Bitcoin ETF (IBIT) has seen a steady inflow streak, totaling $20.317 billion over the same period. </p> 
<h2 id="impact-on-ethereum-s-price">Impact on Ethereum’s Price</h2> 
<p>At the time of writing, Ethereum was struggling to break past the $3K level, trading at $2,575.71, down by 4.53%. </p> 
<p>The Relative Strength Index (RSI) further confirmed the bearish trend as it stood below the neutral 50 level at 36. However, the expanded Bollinger Bands suggest a potential trend reversal might be imminent. </p>

How BlackRock’s ETHA Outperforms Despite Ethereum ETFs’ Market Downturn

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CoinEagle.com

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